The 'smart's warrant holders are those that always believed in CYDY and took advantage of 2 opportunities to tender their warrants for less than the original strike price. Back in Q1 2018 CYDY offered 50 cents / warrant and I cashed in some of mine and luckily last June they did an amazing offer of only 40 cents / warrant and a free 1/2 effectively costing less than 27 cents per share. So I have no warrants left. And those that do never took advantage of prior offers but hopefully see the light at the end of the tunnel and pony up SOON !!